MUMBAI: Finance minister Piyush Goyal on Tuesday stated the government is open to talk about the problems that the Reserve Bank of India (RBI) had raised just lately over the loss of powers in regulating state-run lenders.
Amidst criticism that the apex bank had failed in its regulatory oversight over government-owned banks following the Rs 13,500-crore PNB scam, RBI governor Urjit Patel had just lately blamed it at the loss of powers to regulate them.
"The government is open to discuss with the RBI all the issues it has on regulating state-run banks," Goyal instructed an industry tournament right here this night.
The minister also dominated out government pairing its stake in public sector banks (PSBs), pronouncing there is not any proposal with the government to decrease its possession in state-run banks to underneath 51 according to cent in 20 of them.
The commentary comes amidst sturdy opposition from banking and LIC unions to the government plans to sell its majority stake within the crippled IDBI Bank to LIC.
Admitting that the banking device has failed the public in assembly their high expectations of them, Goyal stated bankers have failed to live as much as the high requirements and ethics anticipated of them.
He also stated the government will again all the state-run banks with enough capital.
Admitting that PSBs had confronted political interferences up to now, Goyal stated but underneath this government no minister is meddling within the operational matters of the lenders.
An afternoon after accepting the Sunil Mehta panel advice to arrange an asset control company (AMC), that can function like a nasty bank to unravel smaller mortgage defaults of as much as Rs 500 crore, Goyal stated liquidation cannot be the panacea for all NPAs as there are genuine business failures which wish to be resolved.
Amidst criticism that the apex bank had failed in its regulatory oversight over government-owned banks following the Rs 13,500-crore PNB scam, RBI governor Urjit Patel had just lately blamed it at the loss of powers to regulate them.
"The government is open to discuss with the RBI all the issues it has on regulating state-run banks," Goyal instructed an industry tournament right here this night.
The minister also dominated out government pairing its stake in public sector banks (PSBs), pronouncing there is not any proposal with the government to decrease its possession in state-run banks to underneath 51 according to cent in 20 of them.
The commentary comes amidst sturdy opposition from banking and LIC unions to the government plans to sell its majority stake within the crippled IDBI Bank to LIC.
Admitting that the banking device has failed the public in assembly their high expectations of them, Goyal stated bankers have failed to live as much as the high requirements and ethics anticipated of them.
He also stated the government will again all the state-run banks with enough capital.
Admitting that PSBs had confronted political interferences up to now, Goyal stated but underneath this government no minister is meddling within the operational matters of the lenders.
An afternoon after accepting the Sunil Mehta panel advice to arrange an asset control company (AMC), that can function like a nasty bank to unravel smaller mortgage defaults of as much as Rs 500 crore, Goyal stated liquidation cannot be the panacea for all NPAs as there are genuine business failures which wish to be resolved.
Government open to discuss RBI's power over regulating PSBs: Piyush Goyal
![Government open to discuss RBI's power over regulating PSBs: Piyush Goyal]()
Reviewed by Kailash
on
July 03, 2018
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